Wedbush Reiterates “Neutral” Rating for Shake Shack (NYSE:SHAK)

Wedbush reissued their neutral rating on shares of Shake Shack (NYSE:SHAK) in a report issued on Wednesday morning,Benzinga reports. They currently have a $130.00 target price on the stock. Wedbush also issued estimates for Shake Shack’s Q4 2024 earnings at $0.24 EPS, FY2024 earnings at $0.90 EPS, Q1 2025 earnings at $0.25 EPS, Q2 2025 earnings at $0.34 EPS, Q3 2025 earnings at $0.35 EPS, Q4 2025 earnings at $0.32 EPS and FY2025 earnings at $1.26 EPS.

A number of other research analysts also recently weighed in on SHAK. Oppenheimer upped their price target on Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Gordon Haskett raised Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 target price on the stock in a research report on Wednesday, January 8th. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $125.00 to $159.00 in a research report on Tuesday, January 7th. Truist Financial lowered their price objective on shares of Shake Shack from $149.00 to $143.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, TD Cowen reiterated a “buy” rating and set a $125.00 price objective on shares of Shake Shack in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $123.78.

Shake Shack Stock Performance

NYSE:SHAK opened at $115.25 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.01 and a debt-to-equity ratio of 0.51. Shake Shack has a twelve month low of $66.06 and a twelve month high of $139.89. The company has a fifty day moving average of $128.97 and a 200-day moving average of $111.20. The firm has a market capitalization of $4.90 billion, a P/E ratio of 677.94, a P/E/G ratio of 1.91 and a beta of 1.86.

Shake Shack (NYSE:SHAK) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. Shake Shack had a net margin of 0.68% and a return on equity of 6.28%. The firm had revenue of $316.92 million during the quarter, compared to the consensus estimate of $316.03 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Shake Shack will post 0.82 EPS for the current year.

Insider Activity at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 642 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the completion of the transaction, the chief financial officer now directly owns 30,717 shares of the company’s stock, valued at approximately $4,223,894.67. This represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Harris Meyer sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $121.79, for a total value of $3,653,700.00. Following the transaction, the director now owns 407,646 shares of the company’s stock, valued at $49,647,206.34. This represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,333 shares of company stock worth $6,566,330 over the last quarter. Company insiders own 9.73% of the company’s stock.

Institutional Investors Weigh In On Shake Shack

Large investors have recently bought and sold shares of the business. Harbor Investment Advisory LLC bought a new position in Shake Shack during the fourth quarter valued at $149,000. Cascade Investment Group Inc. purchased a new stake in shares of Shake Shack during the 4th quarter valued at about $221,000. CHURCHILL MANAGEMENT Corp bought a new position in shares of Shake Shack in the 4th quarter valued at about $871,000. Assenagon Asset Management S.A. grew its position in Shake Shack by 45.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 152,264 shares of the company’s stock worth $19,764,000 after acquiring an additional 47,906 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Shake Shack by 4.3% during the fourth quarter. Nordea Investment Management AB now owns 76,884 shares of the company’s stock worth $10,049,000 after acquiring an additional 3,186 shares during the last quarter. Institutional investors own 86.07% of the company’s stock.

Shake Shack Company Profile

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.